FRANKFURT (Reuters) – Porsche will not take part in a fierce discount battle in the weakened Chinese market, and is instead sticking to its principle of maintaining premium prices even if it costs the luxury carmaker market share.
Porsche boss Oliver Blume said this “value over volume” strategy was the reason for deliveries in China falling 15% in 2023, with the local economy facing an economic and real estate crisis.
Blume said that lots of carmakers were offering discounts in China, adding Porsche would “not follow this theme” and had therefore deliberately taken volumes out.
(Reporting by Christoph Steitz; Editing by Madeline Chambers)
